How many law firms or solicitors practices are there in the UK?
Whilst I hear a lot of doom and gloom about the trials and tribulations of running a law firm, I am also lucky enough to work with a great many solicitors who are very effective with their marketing and so run very profitable and successful practices (I would say that as they are my clients wouldn’t I)!
So I am always fascinated when the latest number of law firms are released by the law society, and at the end of November the total number of law firms in practice were 10,925, which is only 20 less than November 2010. So many firms are still battling on despite this Government’s best endeavours to end a profitable life for solicitors. As an aside I was discussing law firm marketing with a specialist who does what I do in the States. He explained that their Government which contains many lawyers actually go out of their way to help lawyers in business by passing favourable laws for them. He was amazed when I told him that despite the fact that many of our Government also contains former lawyers they go out of their way to prevent solicitors making a profit.
Back to the number of law firms, almost one third of them are sole practitioners, and in my view they have a distinct advantage over larger law firms: namely the ability to make decisions and act upon them quickly. I refuse to work with any firms with more than three partners because in my experience they need to hold 300 committee meetings before making a small marketing decision, by which time the opportunity has gone (because sole practitioners marched in and took action).
So to all firms still battling on out there I say well done. And for those of you who do not want it to be such a battle, sign up for my marketing advice below and I will make your life a lot more fun (if you take action that is)!
Author: Nick Jervis